Kenya under pressure as Uganda issues Sh62bn bond for SGR
Nairobi, May 25 -- Uganda has put pressure on Kenya to connect Malaba to the standard gauge railway (SGR) after it issued a Sh62 billion (€405 million) bond to kick-start the construction of a new line on its side of the border.
Uganda has issued a shariah-compliant Sukuk bond, in two segments, with Sh32 billion (€205 million) being raised from the country and its neighbours, including Kenya, while Sh30 billion (€200 million) will target international investors.
The construction of the new line will put pressure on Kenya to quicken the extension of the SGR to neighbouring Uganda, after a six‑year hiatus.
The SGR project stalled in Naivasha, more than 350 km short of the Ugandan border, holding up a planned cross...
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